TETRA Technologies, Inc. (NYSE:TTI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Amendment to Change of Control Agreement
On October 24, 2019, the Company entered into an Amended and Restated Change of Control Agreement with Brady M. Murphy, the Company’s President and Chief Executive Officer. The purpose of the amendment was to increase the amount of the benefits payable thereunder, in connection with Mr. Murphy’s promotion to Chief Executive Officer, (i) from 2 times his annual Base Salary and target Annual Bonus amounts to 2.99 times such amounts and (ii) from 2 to 3 years of medical and dental benefits under the Company’s group health plan following a qualifying termination of Mr. Murphy’s employment. A copy of the Amended and Restated Change of Control Agreement is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
TETRA TECHNOLOGIES INC Exhibit
EX-10.1 2 tti-ex101_6.htm EX-10.1 tti-ex101_6.htm AMENDED AND RESTATED CHANGE OF CONTROL AGREEMENT THIS AMENDED AND RESTATED CHANGE OF CONTROL AGREEMENT (the “Agreement”),…
To view the full exhibit click here
About TETRA Technologies, Inc. (NYSE:TTI)
TETRA Technologies, Inc. is an oil and gas services company. The Company focuses on completion fluids and associated products and services, water management, production well testing, offshore rig cooling, compression services and equipment, and offshore services, such as decommissioning and diving. It is composed of five segments organized into four divisions: Fluids, Production Testing, Compression and Offshore. The Fluids division manufactures and markets clear brine fluids, additives and associated products and services to the oil and gas industry. Its Production Testing division provides frac flowback services, production well testing services, offshore rig cooling and other associated services in various oil and gas producing regions. The Compression division provides compression services and equipment for natural gas and oil production, gathering, transportation, processing and storage. The Offshore division consists of two operating segments: Offshore Services and Maritech.
